瑞达rejda保险教材英文练习题10.docx

瑞达rejda保险教材英文练习题10.docx

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瑞达rejda保险教材英文练习题10

PrinciplesofRiskManagementandInsurance,11e（Rejda）

Chapter10AnalysisofInsuranceContracts

1）Theportionofapropertyandliabilityinsurancecontractthatcontainsinformationaboutthepropertyoractivitytobeinsurediscalledthe

A）declarations.

B）insuringagreement.

C）exclusions.

D）conditions.

Answer:

A

QuestionStatus:

PreviousEdition

2）Whatinformationiscontainedintheinsuringagreementofaninsurancepolicy

A）adescriptionofthepropertyorlifetobeinsured

B）asummaryofthemajorpromisesoftheinsurer

C）asummaryoftheobligationsoftheinsured

D）alistoftheproperty,losses,andperilsthatarenotcovered

Answer:

B

QuestionStatus:

PreviousEdition

3）Whichofthefollowingstatementsabout"all-risks"coverageis（are）true

I.Alllossesarecoveredexceptthoselossesspecificallyexcluded.

II.Theburdenofproofisontheinsuredtoprovethatalossiscovered.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

A

QuestionStatus:

PreviousEdition

4）Theexclusionoffloodinahomeownerspolicyisanexampleofan

A）excludedactivity.

B）excludedcondition.

C）excludedproperty.

D）excludedperil.

Answer:

D

QuestionStatus:

PreviousEdition

5）ExclusionsareusedininsurancepoliciesforallofthefollowingreasonsEXCEPT

A）toreducemoralhazard.

B）towaivepolicyconditions.

C）toeliminatecoverageforuninsurableperils.

D）toeliminatecoveragenotneededbytypicalinsureds.

Answer:

B

QuestionStatus:

PreviousEdition

6）Reasonswhyaperilmaybeconsidereduninsurableandthereforeexcludedfrominsurancecontractsincludewhichofthefollowing

I.Thelossesfromtheoccurrenceoftheperilmaybeduetoapredictabledeclineinvalue.

II.Thelossesfromtheoccurrenceoftheperilmaybeincalculableandcatastrophic.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

C

QuestionStatus:

PreviousEdition

7）Thepolicyprovisionrequiringthefilingofproofoflosswiththeinsurerisanexampleofa（n）

A）declaration.

B）condition.

C）insuringagreement.

D）miscellaneousprovision.

Answer:

B

QuestionStatus:

PreviousEdition

8）Whichofthefollowingstatementsaboutthedefinitionoftheinsuredis（are）true

I.Insomecases,apersonwhoisnotspecificallynamedmaybeclassifiedasaninsured.

II.Undernocircumstancescanmorethanonepersonbenamedasaninsured.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

A

QuestionStatus:

PreviousEdition

9）AllofthefollowingstatementsaboutendorsementsandridersaretrueEXCEPT

A）Theyareusuallywritten.

B）Theycanbeusedtoaddordeletepolicyprovisions.

C）Theynormallytakeprecedenceoverotherconflictingpolicyprovisions.

D）Theyareprimarilyusedtocircumventlegislationrequiringspecificpolicyprovisions.

Answer:

D

QuestionStatus:

PreviousEdition

10）DeductiblesareusedinallofthefollowingtypesofinsuranceEXCEPT

A）lifeinsurance.

B）healthinsurance.

C）propertyinsurance.

D）automobileinsurance.

Answer:

A

QuestionStatus:

PreviousEdition

11）AllofthefollowingarepurposesofdeductiblesEXCEPT

A）toeliminatesmallclaims.

B）toreducepremiums.

C）toreduceattitudinalhazard.

D）toexcludeuninsurableperils.

Answer:

D

QuestionStatus:

Revised

12）Thedeductibleusedforautomobilecollisionlossesisanexampleofa（n）

A）corridordeductible.

B）eliminationperiod.

C）straightdeductible.

D）aggregatedeductible.

Answer:

C

QuestionStatus:

PreviousEdition

13）Whichofthefollowingstatementsaboutacalendar-yeardeductibleis（are）true

I.Itrequirestheinsuredtopayaspecifiedamountofeachclaimregardlessofwhentheclaimoccursduringtheyearandregardlessofanypreviousclaimsduringtheyear.

II.Itisusedonlyinpolicieswhichcoverdirectpropertylosses.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

D

QuestionStatus:

PreviousEdition

14）Aprovisioninadisabilityincomeinsurancepolicythatrequiresapersontobedisabledfor60daysbeforereceivingbenefitsisanexampleofa（n）

A）corridordeductible.

B）graceperiod.

C）eliminationperiod.

D）probationaryperiod.

Answer:

C

QuestionStatus:

Revised

15）Atwhatpointintimemustaninsuredmeetthecoinsurancerequirementinapropertyinsurancepolicyinordertoavoidhavingtopayaportionoftheloss

A）onlyatthetimeofloss

B）onlyatthetimewhenthepolicyisissued

C）onlyatthetimeofpolicyapplication

D）bothatthetimewhenthepolicyisissuedandatthetimeofloss

Answer:

A

QuestionStatus:

Revised

16）Davidownsacommercialbuildingwithareplacementcostof$4million.Thebuildingisinsuredonareplacementcostbasisfor$3millionunderafireinsurancepolicythathasan80percentcoinsuranceclause.HowmuchwillDavidcollectifthebuildingsustainsacoveredfirelosswithareplacementcostof$320,000

A）$266,667

B）$275,000

C）$300,000

D）$320,000

Answer:

C

QuestionStatus:

PreviousEdition

17）Theprimarypurposeofcoinsuranceinpropertyinsuranceisto

A）reducemoralhazard.

B）achieveequityinrating.

C）minimizeproblemsinsettlingclaims.

D）eliminatesmalllosses.

Answer:

B

QuestionStatus:

PreviousEdition

18）Whichofthefollowingstatementsaboutproblemsarisingfromtheuseofacoinsuranceclauseis（are）true

I.Theamountofinsuranceshouldbeperiodicallyevaluatedtoavoidacoinsurancepenaltybecauseofinflation.

II.Anagreedvaluecoverageoptionisonemethodusedtosolvetheproblemofvaluesthatfluctuatethroughoutthepolicyterm.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

C

QuestionStatus:

PreviousEdition

19）Conniehasamajormedicalpolicywitha$200deductibleanda75-25coinsuranceclause.Ifshehaseligiblemedicalexpensesof$10,000,howmuchwillbepaidbyherinsurer

A）$7,300

B）$7,350

C）$7,500

D）$9,800

Answer:

B

QuestionStatus:

PreviousEdition

20）Purposesofthecoinsuranceclauseinhealthinsurancecontractsincludewhichofthefollowing

I.Toreducepremiums.

II.Toexcludecoverageforcertainmedicalprocedures.

A）Ionly

B）IIonly

C）bothIandII

D）neitherInorII

Answer:

A

QuestionStatus:

PreviousEdition

21）Thepurposeofother-insuranceprovisionsisto

A）eliminatetheneedfordeductibles.

B）penalizethoseinsuredswhocarryinadequateamountsofinsurance.

C）specifywhowillpaylossesiftheinsurerisbankrupt.

D）preservetheprincipleofindemnity.

Answer:

D

QuestionStatus:

PreviousEdition

22）Lisahasthreefireinsurancepoliciesonherofficebuilding.ThepolicyfromcompanyAisfor$400,000,andthepoliciesfromcompaniesBandCarefor$100,000each.IfLisahasa$360,000loss,howmuchofthelosswillbecoveredbyeachpolicyifthelossissettledonaproratabasisbytheinsurers

A）eachpolicy:

$120,000

B）policyA:

$160,000;policiesBandC:

$100,000each

C）policyA:

$240,000;policiesBandC:

$60,000each

D）policyA:

$360,000;policiesBandC:

nothing

Answer:

C

QuestionStatus:

PreviousEdition

23）Kevinhasthreeliabilitypolicieswhichprovideforcontributionbyequalsharesifotherinsuranceappliestoaloss.Howmuchwilleachpolicypayfora$3,000,000liabilityjudgmentifpolicyAprovides$500,000ofcoverage,policyBprovides$1,000,000ofcoverage,andpolicyCprovides$3,000,000ofcoverage

A）Eachpolicywillpay$500,000,andKevinmustpaytheremaining$1,500,000.

B）PolicyAwillpay$500,000,policiesBandCwilleachpay$1,000,000,andKevinmustpaytheremaining$500,000.

C）PolicyAwillpaynothing,policyBwillpay$1,000,000,andpolicyCwillpay$2,000,000.

D）PolicyAwillpay$500,000,policyBwillpay$1,000,000,andpolicyCwillpay$1,500,000.

Answer:

D

QuestionStatus:

PreviousEdition

24）HelenandJohnbothownautomobilesonwhichtheycarryliabilityinsurance.IfHelenisnegligentandhasanaccidentwhiledrivingJohn'scar,howwilleachinsurerrespondtoanyliabilityjudgmentagainstHelen

A）Theinsurerswillpaythejudgmentonaproratabasis.

B）John'sinsurerwillpayonanexcessbasisifHelen'sinsuranceisinsufficienttocoverthejudgment.

C）Helen'sinsurancewillpayonanexcessbasisifJohn'sinsuranceisinsufficienttocoverthejudgment.

D）Thepolicieswillpaythejudgmentonthebasisofcontributionbyequalshares.

Answer:

C

QuestionStatus:

PreviousEdition

25）Kateiscoveredunderheremployer'sgrouphealthplan.Sheisalsocoveredasadependentunderherhusband'sgrouphealthplan.Undertheusualcoordination-of-benefitsprovision,howwilleachcompanyrespondtoaclaimfiledbyKate

A）Kate'splanisprimary,andherhusband'splanisexcess.

B）Herhusband'splanisprimary,andKate'splanisexcess.

C）Theplanofthepersonwiththebirthdayearliestintheyearpaysfirst,andtheotherplanisexcess.

D）Eachplanwillpay50percentoftheclaim.

Answer:

A

QuestionStatus:

PreviousEdition

26）Eric'spropertywasdamagedinanaccident.Hephonedhisagenttoseeifthelosswascoveredunderhispropertyinsurancepolicy.Theagentsaid,"Aslongasthecauseoflossisnotspecificallyexcludedinthepolicy,thelossiscovered."Basedontheagent'sanswer,whattypeofinsuringagreementappearsinthepolicy

A）unconditionalcoverage

B）named-perilscoverage

C）extended-perilscoverage

D）"all-risks"coverage

Answer:

D

QuestionStatus:

PreviousEdition

27）Janethitawallcausingalargedentinthefenderofhercar.Shewasbusyatworkanddelayedreportingthedamagetoherinsurerfor9months.Theinsurerdeniedtheclaim,stating,"Althoughsuchalossisusuallycovered,youarerequiredunde